When can I stop paying PMI?
Type in your loan numbers. See the date you can ask, and the date it should end on its own. With Pro, we can email you when the first date gets close.
From your statement, without tax, insurance or PMI. Don't know it? Pick your remaining term under the options below.
Estimates only, not financial or legal advice. Verify with your lender.
How this works
80% LTV: you can request it
Once your balance falls to 80% of your home's original value and you're current on payments, you can ask your servicer in writing to cancel PMI. Extra principal payments can move this date earlier.
78% LTV: it's automatic
The law says your lender must end PMI on its own. That happens on the date your original schedule says you will owe 78% of what the home was worth. You must be current on payments. You do not have to ask. If you are still above 78% halfway through the loan's original term, it should end then instead (the midpoint). This tool does not know your original term, so that is a date to check with your servicer.
Extra payments don't move the 78% date
Unlike the 80% date, the automatic date is set by your ORIGINAL payment schedule, so paying extra can't pull it in. Only the 80% date you ask for moves with extra payments. A loan modification can change both dates.
Common questions
It's a close estimate based on the numbers you enter. Your servicer uses your actual payment history and current statement balance, so treat these dates as planning guidance and confirm the exact figure against your latest mortgage statement.
Not accurately. FHA mortgage insurance premium (MIP) follows different federal rules than conventional PMI. Most FHA loans with less than 10% down (originated after June 2013) keep MIP for the life of the loan, and reaching 80% LTV alone won't cancel it. Refinancing into a conventional loan is usually the only way out. This calculator assumes a conventional loan.
Enter your real current balance from your latest statement. That already reflects any extra payments you've made. This tool doesn't model future extra payments you haven't made yet; for that kind of ongoing, automatic tracking, create a free CasaCrow account.
You can ask your servicer in writing to cancel PMI, citing the Homeowners Protection Act of 1998 (12 U.S.C. §4902). You need to be current, with a good payment history. Your servicer may also ask for proof the home has not lost value, and that there is no second loan on it. CasaCrow's PMI Removal Kit drafts that letter for you, along with an appraisal playbook if you need one.
No. Every calculation runs in your browser, and nothing you type here is transmitted to or stored by CasaCrow unless you click "Track my PMI date free" to create an account.
Stop checking this by hand
Run your free health check once, and your numbers stay saved. With Pro, we check your PMI and the latest average rates every day. We email you when something may be worth a look.